Morningstar - Q2 2022 - 71

When TenBroeck started his firm in 2012, he
noticed there was an abundance of information
available to help people plan for retirement
and help them invest for the long run and
defer taxes.
But there was a dearth information available to
help people near or already in retirement.
So, he started offering seminars to bridge the
knowledge gap for his clients.
Now Presidio offers clients a suite of modules
dubbed Retirement 101 to help them along
the journey. Topics include whether to pay off a
mortgage, how not to run out of money,
when to take Social Security, whether to buy
long-term-care insurance, and whether to
buy a rental property.
TenBroeck uses Morningstar Workstation
to evaluate client portfolios and compare them
with benchmarks. He also uses it to analyze
exchange-traded funds and mutual funds
in the portfolios. He uses the screener to have a
list of alternate funds at the ready.
TenBroeck's strategies have helped build a steady
business, composed of about 200 households as
of late February. Assets under management were
about $250 million, up from less than $100
million three years earlier, and the firm employs
about a dozen people. Most clients are retired, or
close to retiring, and most have already
experienced some success in their careers, with
assets between $2 million and $4 million.
From a B to an A
Dustin TenBroeck, CFP, president of Presidio
Capital Management.
How he caught our eye: Puts a focus on financial
education with clients.
Career path: Graduated from San Diego
State University with a business degree in finance.
He first worked as a financial advisor at AXA
Equitable, then as a relationship manager
at Centara Capital Management, a San Diego
firm that serves high-net-worth clients.
He launched his own firm, Presidio Capital
Management, in 2012.
Personal: Lives in San Marcos, California, about a
half hour from the office in San Diego. Married
to Heather TenBroeck, director of client relations
at the firm. They met in the 2000s, when
both rented separate apartments in a duplex.
They have two sons, ages 10 and 14. For exercise,
TenBroeck likes to run in the hills near his
house with Dash, his golden retriever, a dog so
adored that clients sometimes offer to take
care of him when the TenBroecks take vacation.
Favorite funds: Likes using exchange-traded
funds because of their cost and tax efficiencies.
Successful financial advisors need to be good
with people, and TenBroeck learned some
key interpersonal skills growing up in Mountain
View, California, in Silicon Valley. His parents
were divorced but unified on the importance
of education. Get the grades, they said, but more
importantly, develop the tools and strategies
to stay on top of school. His dad gave him
tips on how to negotiate a B grade to an A when
TenBroeck was in high school. TenBroeck
would often go to his teacher to do extra credit.
" If they said no, you did it anyway, " he says.
" You would hand it in and be surprised
what would happen. " He would also offer to
help teachers during his lunch to curry favor.
TenBroeck had good motivation to get the better
grades: keeping the driving privileges for
his 1986 Ford Mustang convertible. Often his dad
required him go to his teachers on Fridays
to sign off on a form that said he had completed
his assignments and indicate his current
grade. Anything less than a B, and he would
lose the rights to drive the car.
The networking and discipline developed in high
school proved to be good training for the
financial world. So did college. He majored in
finance at San Diego State University. A portfoliomanagement
class enhanced his interest in
investing. Through his involvement with various
business clubs on campus, he got to meet
alumni who came back to speak, including
investment managers, financial advisors, hedge
fund managers, and bankers. He was enamored of
investing, and of the then-nascent concept
of socially responsible investing. After graduating
in 2005, he took a job selling retirement
plans to teachers, helping them save more
cash to invest.
Family Time
He lived at the time in Pacific Beach, a San Diego
seaside haven that back in the day was a
magnet for young people, college students, and
surfers. Renting a bottom apartment in a
duplex, he started dating a woman named
Heather in the apartment upstairs. They would
later get married, and Heather TenBroeck is now
director of client relations at Presidio. Heather
TenBroeck's father owned the building they
lived in. " My father-in-law was my landlord first, "
Dustin TenBroeck says.
TenBroeck later worked for a firm that served
high-net-worth clients, then he struck out
on his own in 2012 with only about $3 million in
assets in management. He held weekly calls
with his dad and stepmother, who served as
de facto marketing consultants. As a way to get
clients, he rented space at universities and
libraries to teach the retirement seminars. When
COVID-19 suspended in-person classes in
2020, TenBroeck moved the topics online, branding
the modules Retirement 101. (Nonclients can
pay $79 for the set.)
TenBroeck, of course, stresses the importance of
financial planning with clients, but he and
Heather make sure they do it themselves. The
two meet every other Friday morning for
three hours to talk about their own needs as
individuals, a couple, and a family. The planning
ranges from date nights to vacations to their
own personal finances.
" We set all these goals for our business and clients,
and we set strategies to accomplish these
goals, " he says. " You have to do the same thing in
your marriage. That's our time to plan, because
life can just pass you by. " K
Charles Keenan is a freelance financial journalist.
Photography by Samantha Zauscher.
morningstar.com/products/magazine
71
https://www.morningstar.com/authors/2439/charles-keenan http://www.morningstar.com/products/magazine

Morningstar - Q2 2022

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Contents
Morningstar - Q2 2022 - Cover1
Morningstar - Q2 2022 - Cover2
Morningstar - Q2 2022 - 1
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Morningstar - Q2 2022 - Contents
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